Stock Market Today: Sensex Over 200 Points Down, Nifty Tests 24,550 As US-Iran Deal Hopes Fade

I dia
be chma k
i dices
ope ed
i
ed
o
Tuesday
as
fadi g
hopes
of
a
ea -te m
ag eeme t
betwee
the
U ited
States
a d
I a
kept
i vesto s
cautious.
Mixed
global
cues
a d
isi g
c ude
oil
p ices
also
emai ed
key
facto s
i flue ci g
ma ket
se time t.

The
BSE
Se sex
plu ged
mo e
tha
200
poi ts
a d
tested
78,300,
while
the
NSE
Nifty50
ope ed
the
sessio
u de
24,550,
falli g
almost
50
poi ts,
as
of
9:15
AM.

GIFT
Nifty,
Global
Cues
Keep
Ma kets
Cautious

The
subdued
ope i g
came
as
i vesto s
assessed
the
latest
developme ts
su ou di g
the
US-I a
situatio ,
with
expectatio s
of
a
ea -te m
deal
appea i g
to
weake .

At
a ou d
9:10
AM,
the
Se sex
was
t adi g
at
78,509.77,
dow
32.67
poi ts,
o
0.04
pe
ce t,
while
the
Nifty
stood
at
24,575.10,
lowe
by
8.70
poi ts,
o
0.04
pe
ce t.

Asia
ma kets,
howeve ,
t aded
highe
i
ea ly
deals.
Ho g
Ko g’s
Ha g
Se g
gai ed
0.42
pe
ce t,
while
South
Ko ea’s
Kospi
adva ced
0.32
pe
ce t
as
i vesto s
weighed
developme ts
i
West
Asia
alo gside
ove ight
cues
f om
Wall
St eet.

Wall
St eet
E ds
Lowe

US
equities
closed
ma gi ally
lowe
i
the
p evious
sessio .

The
Dow
Jo es
I dust ial
Ave age
decli ed
0.11
pe
ce t,
while
the
S&P
500
slipped
0.06
pe
ce t.
The
Nasdaq
Composite
e ded
0.32
pe
ce t
lowe .

The
mixed
pe fo ma ce
o
Wall
St eet,
pa ticula ly
weak ess
i
tech ology
stocks,
has
added
to
the
cautious
to e
i
Asia
t adi g.

C ude
Oil
Rises
O
Supply
Co ce s

Oil
p ices
moved
highe
as
i vesto s
assessed
the
outlook
fo
global
supplies
amid
sig s
of
a
impasse
i
US-I a
discussio s.

US
pet oleum
ese ves
fell
below
300
millio
ba els,
eachi g
thei
lowest
level
si ce
1983,
addi g
to
co ce s
ove
the
futu e
supply
situatio .

B e t
c ude
futu es
ose
0.09
pe
ce t
to
$87.80
pe
ba el
o
the
I te co ti e tal
Excha ge.

Fo
I dia
equities,
c ude
oil
emai s
a
impo ta t
ma ket
t igge
as
sustai ed
highe
p ices
ca
i flue ce
i flatio ,
the
upee
a d
co po ate
ma gi s.

Gold,
Silve
Gai

P ecious
metals
also
wit essed
buyi g
i te est
i
ea ly
t ade.

Gold
futu es
ose
1.51
pe
ce t,
while
silve
futu es
gai ed
2.02
pe
ce t,
as
i vesto s
co ti ued
to
mo ito
geopolitical
developme ts
a d
b oade
global
ma ket
u ce tai ty.

Se sex,
Nifty
Remai
I
A
Ra ge

Ma ket
actio
i
the
p evious
sessio
emai ed
la gely
a ge-bou d,
acco di g
to
Sh ika t
Chouha ,
Head
of
Equity
Resea ch
at
Kotak
Secu ities.

Chouha
said
the
Nifty
gai ed
13
poi ts
while
the
Se sex
adva ced
43
poi ts,
with
the
Capital
Ma ket
a d
Realty
i dices
isi g
mo e
tha
1
pe
ce t.
I
co t ast,
PSU
Ba ks
a d
Defe ce
stocks
decli ed
by
mo e
tha
1
pe
ce t.

He
oted
that
the
be chma ks
emai ed
withi
a
a ow
a ge
du i g
the
sessio ,
with
tech ical
i dicato s
poi ti g
towa ds
a
lack
of
clea
di ectio .
The
fo matio
of
a
small
ca dle
o
the
daily
cha t
also
suggested
“i decisive ess
betwee
the
bulls
a d
bea s”.

Acco di g
to
Chouha ,
24,650-24,700
will
emai
a
impo ta t
esista ce
zo e
fo
the
Nifty,
while
78,800-79,000
will
be
key
levels
fo
the
Se sex.

A
decisive
move
above
these
levels
could
take
the
Nifty
towa ds
24,800
a d
the
Se sex
towa ds
79,300.

O
the
dow side,
a
b eak
below
24,500
fo
the
Nifty
a d
78,300
fo
the
Se sex
could
i c ease
selli g
p essu e.
Fu the
weak ess
could
take
the
i dices
towa ds
24,400-24,350
a d
78,000-77,800,
espectively.

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